FACT: Variations in gas prices are driven by the world market, and are not dependent on U.S. government policies. This includes the existing subsidies for the oil and gas industry according to multiple studies that have found that repealing oil and gas subsidies would have only a marginal impact on gas prices. Assistant Secretary of the Treasury Alan Krueger estimated in 2009 that “eliminating [oil and gas subsidies] would have an insignificant effect on world oil prices.”1 Analysis by the think tank Resources for the Future arrived at a similar conclusion, finding that eliminating oil and gas tax preferences would increase the world oil price by just 10 cents per barrel in 2030.2 This minimal increase in cost would translate to an extra expenditure of $2.17 per year on petroleum products for the average U.S. consumer.3 At the same time, the U.S. government – by eliminating unnecessary subsidies for oil and gas - would be saving on the order of $10 billion per year4 that could be invested in other national priorities like defense, transportation, or alternative energy Oil & Gas Subsidies: Myth vs. Fact https://usa.oceana.org/oil-gas-subsidies-myth-vs-fact
Sent from AT&T Yahoo Mail for iPhone On Friday, July 16, 2021, 10:27 PM, Lawrence Rhodes via EV <[email protected]> wrote: Without subsidies gasoline would cost $12.75 a gallon. Biden is threatening to end them. It's time to question ownership of fossil fuel vehicles. Could be a gotcha coming for those unaware. Lawrence Rhodes https://www.greenpeace.org/usa/ending-the-climate-crisis/everything-you-need-to-know-about-fossil-fuel-subsidies/ _______________________________________________ Address messages to [email protected] No other addresses in TO and CC fields UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub ARCHIVE: http://www.evdl.org/archive/ LIST INFO: http://lists.evdl.org/listinfo.cgi/ev-evdl.org -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://lists.evdl.org/private.cgi/ev-evdl.org/attachments/20210717/6c77fa4a/attachment.html> _______________________________________________ Address messages to [email protected] No other addresses in TO and CC fields UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub ARCHIVE: http://www.evdl.org/archive/ LIST INFO: http://lists.evdl.org/listinfo.cgi/ev-evdl.org
